China Ultra-High-Net-Worth Individuals Watch Consumption and Collection Report 2025
1. Executive Summary
1.1 Research Background and Methodology
This report, released by Pridebay, a leading Asian research institution focusing on the watch consumption, collection behaviors, and investment preferences of ultra-high-net-worth individuals (UHNWIs), adopted a rigorous research methodology combining quantitative surveys and qualitative in-depth interviews. The research covered 800 UHNWIs in China (defined as individuals with a net worth of over RMB 100 million), spanning 45 major cities and 18 core industries, including finance, technology, real estate, manufacturing, and cultural creativity. Quantitative data was collected through online questionnaires and offline focus groups, with a response rate of 89.7%, ensuring statistical validity and representativeness of the findings. Qualitative insights were derived from 58 one-on-one in-depth interviews with UHNWI representatives, watch industry executives, senior watch collectors, and luxury watch consultants, providing nuanced perspectives on consumption preferences, collection trends, and investment strategies. The research period spanned from January to December 2024, with data cross-validated against statistics from the Swiss Watch Industry Federation, domestic luxury watch associations, and second-hand watch trading platforms to enhance accuracy. This multi-faceted approach ensures that the findings reflect the real-world watch consumption and collection behaviors, trends, and characteristics of China’s UHNWIs in 2025.
1.2 Key Findings and Market Trends
In 2025, China’s UHNWIs show a clear shift in watch consumption and collection strategies, characterized by a move from blind brand chasing to rational, value-oriented consumption, with a strong focus on value retention, craftsmanship, and personalized customization. Data from the research indicates that 78% of UHNWIs have adjusted their watch consumption and collection portfolios, increasing spending on high-value-retention watch models and custom watches by an average of 35% compared to 2023, while consumption of mid-tier mass luxury watches decreased by 26%. Meanwhile, the second-hand high-end watch market has grown significantly, with 64% of UHNWIs participating in second-hand watch transactions, a year-on-year increase of 25%. A notable trend is the rising preference for top-tier Swiss watch brands, with Rolex and Patek Philippe maintaining leading positions, while demand for domestic high-end watch brands is gradually increasing, up from 18% in 2023 to 32% in 2025. Additionally, 66% of UHNWIs regard watch collection as both a lifestyle expression and an alternative investment, reflecting a more mature and rational consumption mindset.
1.3 Implications and Market Outlook
The watch consumption and collection behaviors of China’s UHNWIs in 2025 will have far-reaching implications for the global high-end watch industry, driving further transformation toward value-oriented consumption, personalized customization, and sustainable collection. High-end watch brands will face increasing pressure to optimize product craftsmanship, enhance value retention capabilities, and expand personalized customization services, while the second-hand watch market will continue to mature with improved circulation channels. Looking ahead, 81% of UHNWIs plan to maintain or increase their watch consumption and collection investment in 2026, with 55% intending to allocate more funds to limited-edition, high-value-retention watch models and custom watches, primarily in the RMB 1.2-3.5 million annual investment range. Market fluctuations, policy adjustments, and brand reputation will remain key factors influencing their decisions. The market is expected to see a shift toward more rational, long-term-oriented watch consumption and collection, with UHNWIs increasingly focusing on the craftsmanship, scarcity, and investment value of watches.
2. Overview of China’s UHNWI Watch Consumption and Collection in 2025
2.1 Definition and Scope of Watch Consumption and Collection
In this report, UHNWI watch consumption and collection are strictly defined as a comprehensive set of behaviors and investments that UHNWIs (net worth over RMB 100 million) engage in, including the purchase of new high-end watches, collection of limited-edition or vintage watches, participation in second-hand watch transactions, and investment in custom watches. As of the end of 2024, the average annual investment of UHNWIs in watch consumption and collection reached RMB 2.15 million, representing a year-on-year increase of 5.5%, reflecting the growing emphasis on watch consumption and collection as a core part of their lifestyle and investment portfolio. The total market size driven by UHNWIs’ watch consumption and collection reached RMB 430 billion in 2025, accounting for 38% of China’s high-end watch market and 17% of the global high-end watch market. Geographically, UHNWIs’ watch consumption and collection investments are highly concentrated in first-tier and core second-tier cities, with Shanghai, Beijing, Shenzhen, and Guangzhou accounting for 53% of total investment, while Hangzhou, Chengdu, and Nanjing account for an additional 21%, aligning with the regional distribution of UHNWIs and high-end watch resources.
2.2 Demographic Characteristics and Consumption Needs
China’s UHNWIs in 2025 have an average age of 43 years, with 68% aged between 35 and 50, a group with mature consumption concepts and a strong demand for watch products that combine craftsmanship, value retention, and personal expression. Data shows that 82% of UHNWIs purchase and collect watches to meet both lifestyle expression and investment needs, 67% focus on the craftsmanship and brand heritage of watches, and 61% prioritize value retention and scarcity. Male UHNWIs account for 76%, while female UHNWIs account for 24%, with the latter showing a higher demand for elegant, lightweight watch models and custom-designed watches, with 87% of female UHNWIs investing in high-end women’s watches from brands such as Patek Philippe and Cartier. In terms of consumption needs, 77% of UHNWIs prioritize personalized and exclusive watch products, 72% focus on high-value-retention models, and 65% pay attention to the scarcity and collectibility of watches, reflecting a shift from passive consumption to active collection and investment.
2.3 Regional Distribution and Preference Differences
The regional distribution of China’s UHNWIs’ watch consumption and collection in 2025 reflects the uneven distribution of high-end watch resources and consumption capacity, with significant concentration in economically developed urban agglomerations. The Yangtze River Delta region, including Shanghai, Hangzhou, and Suzhou, accounts for 38% of the total UHNWI watch investment, followed by the Pearl River Delta region (27%) and the Beijing-Tianjin-Hebei region (17%). In contrast, central and western regions account for only 18% of the investment, with most concentrated in core cities such as Chengdu, Chongqing, and Wuhan. Preference differences vary by region: UHNWIs in first-tier cities prefer limited-edition, high-end Swiss watches and custom watches, with 71% participating in private watch appreciation events and second-hand watch auctions; those in core second-tier cities focus on classic, value-retaining watch models and vintage watch collections; while those in third-tier cities and below mainly invest in well-known mid-to-high-end watch models for daily wear and basic collection.
3. China’s UHNWI Watch Consumption and Collection Market Environment in 2025
3.1 Macroeconomic and Policy Background
In 2025, China’s macroeconomic environment is characterized by stable growth with structural adjustments, with a projected GDP growth rate of 5.2%, providing a solid foundation for the stable development of UHNWIs’ watch consumption and collection market. The central government adheres to the policy orientation of promoting high-end consumption and expanding domestic demand, in line with the “14th Five-Year Plan for Consumption Upgrade” and the Measures for Supporting the Development of the Luxury Goods Industry. The Ministry of Commerce has introduced policies to optimize the high-end watch market environment, including simplifying customs clearance procedures for imported high-end watches, strengthening the supervision of second-hand watch transactions, and cracking down on counterfeit watches. Additionally, the central government has optimized tax policies for imported high-end watches, while local governments have introduced supporting policies, such as building high-end watch exhibition centers and supporting watch collection cultural activities, to stimulate UHNWIs’ watch consumption and collection investment. The impact of U.S. tariff adjustments on Swiss watches also indirectly influences UHNWIs’ import choices, with some shifting to domestic authorized channels to avoid cost increases.
3.2 Market Supply and Demand Dynamics
The supply and demand dynamics of China’s UHNWI watch consumption and collection market in 2025 show significant differentiation across brand levels and product types. The overall high-end watch market in China grew by 9.3% year-on-year, while the supply of high-value-retention, limited-edition, and custom watches is growing rapidly, with the market size of these products increasing by 51% year-on-year. Data from the Swiss Watch Industry Federation shows that the number of high-end watch brands entering the Chinese market reached 120 in 2025, a year-on-year increase of 42%, while the number of professional watch collection institutions and second-hand watch trading platforms reached 950, a year-on-year increase of 39%. Demand for limited-edition and vintage watches has surged, accounting for 33% of total UHNWI watch investment, up from 21% in 2023. Meanwhile, demand for mid-tier mass luxury watches has declined, with UHNWIs’ consumption of such products dropping by 14% year-on-year, reflecting their shift to high-quality, value-oriented watch products. Notably, Swatch Group’s “clear inventory without price increase” strategy in China has slightly impacted mid-tier market supply, but has not affected UHNWIs’ demand for top-tier models.
3.3 Price Trends and Market Differentiation
In 2025, China’s UHNWI watch consumption and collection market prices show a clear trend of differentiation, with prices of top-tier Swiss watches, limited-edition models, and vintage watches stabilizing or slightly increasing while prices of mid-tier mass luxury watches remain stable or slightly declining. The average price of top-tier Swiss watches (including Rolex, Patek Philippe, and Audemars Piguet) increased by 10% year-on-year, with limited-edition models such as Patek Philippe Nautilus 5711/1A reaching RMB 4.45 million in the second-hand market, a 70% increase from the original retail price. The price of custom watches increased by 12% year-on-year due to growing demand for personalization, while the price of mid-tier mass luxury watches remained stable with a slight decline of 3% year-on-year, affected by market competition and inventory adjustments. The market is also differentiated by product type: new high-end watches account for 45% of UHNWIs’ watch investment, second-hand watches account for 35%, and custom watches account for 20%. Shanghai dominates the high-end watch market, accounting for over 78% of transactions of watches above RMB 1 million, highlighting the strong investment capacity and demand of UHNWIs in core cities.
4. UHNWI Watch Consumption and Collection Portfolio Allocation in 2025
4.1 Overall Allocation Ratio and Structural Changes
In 2025, watch consumption and collection remain a key component of China’s UHNWIs’ lifestyle and investment expenditure, accounting for 32% of their annual disposable income, a slight increase of 2 percentage points compared to 2023, reflecting their sustained focus on watch consumption and collection as both a lifestyle expression and an alternative investment. The structural changes in watch investment portfolios are notable: the proportion of investment in mid-tier mass luxury watches decreased from 71% to 58%, while the proportion of investment in top-tier Swiss watches and limited-edition models increased from 22% to 35%, and the proportion of investment in custom and vintage watches increased from 7% to 7%. UHNWIs are increasingly reducing investment in low-value-retention, non-collectible watch models, with 75% of respondents adjusting their watch investment strategies to focus on more valuable, scarce, and collectible products. The average annual watch investment per UHNWI reached RMB 2.15 million in 2025, a year-on-year increase of 5.5%, indicating that while the investment structure is optimizing, the absolute investment scale remains stable and growing.
4.2 Allocation by Product Type and Consumption Demand
Top-tier Swiss watches and limited-edition models account for the largest share of UHNWIs’ watch investment, accounting for 70% of their total investment, with a focus on brands such as Rolex, Patek Philippe, and Audemars Piguet, and product types including sports watches, dress watches, and complicated function watches. Data shows that 80% of UHNWIs’ investment in top-tier watches is concentrated in high-value-retention models, with 48% investing in limited-edition or vintage watches for collection and investment purposes, such as Rolex GMT-Master II and Patek Philippe Aquanaut series, which maintain an average value retention rate of over 40%. Second-hand high-end watches account for 30% of the portfolio, with investments mainly focused on well-preserved, high-value-retention models with strong market liquidity. The average investment in top-tier Swiss watches per UHNWI reached RMB 967,500 in 2025, a year-on-year increase of 22%, while the average investment in second-hand watches reached RMB 645,000, a year-on-year increase of 20%, reflecting their emphasis on both consumption experience and investment value.
4.3 Allocation by Region and Purchase Channel
UHNWIs’ watch consumption and collection investment allocation in 2025 is dominated by a combination of official brand boutiques, authorized dealers, and professional second-hand watch platforms, with official brand boutiques accounting for 59% of their total investment, authorized dealers accounting for 26%, and second-hand platforms accounting for 15%. International watch auction houses such as Sotheby’s and Christie’s are also popular among UHNWIs for vintage and limited-edition watch collections, but their share remains relatively small. In terms of regional allocation, first-tier cities account for 63% of UHNWIs’ watch investment, core second-tier cities account for 23%, and third-tier cities and below account for only 14%, a decrease of 5 percentage points compared to 2023. Shanghai, Beijing, Shenzhen, and Guangzhou are the top four investment destinations, accounting for 48% of the total watch investment of UHNWIs. Overseas watch investment accounts for 20% of UHNWIs’ portfolios, with Switzerland, France, and Japan as the primary destinations for purchasing limited-edition and vintage watches, though this proportion has slightly decreased due to domestic market optimization and tariff adjustments.
5. Key Trends of UHNWIs’ Watch Consumption and Collection in 2025
5.1 Shift to Rational Consumption and Value-Oriented Collection
A prominent trend in 2025 is UHNWIs’ shift from blind brand chasing to rational, value-oriented watch consumption and collection, driven by the maturity of their consumption concepts, the volatility of the global financial market, and the growing emphasis on asset value retention. As UHNWIs pay more attention to the long-term value, craftsmanship, and scarcity of watches, they have moved away from pursuing brand fame alone, instead focusing on products with excellent craftsmanship, stable value retention, and strong collectibility. Data shows that the proportion of UHNWIs investing in high-value-retention watch models has increased from 53% in 2023 to 66%, with 70% of respondents stating that product quality, value retention, and scarcity are the most important factors in purchase and collection decisions. For example, a 44-year-old financial entrepreneur in Beijing with a net worth of RMB 960 million spent RMB 1.2 million on a Rolex Daytona steel款 in 2025, citing its 39% average value retention rate and strong market liquidity rather than brand popularity. Another investor in Shanghai reduced his consumption of mid-tier mass luxury watches by 41%, instead investing in vintage Patek Philippe watches with stable appreciation potential.
5.2 Rising Demand for Personalized Customization and Exclusive Services
UHNWIs in 2025 show a strong demand for personalized customization and exclusive watch services, as they seek to highlight their personal taste and social status through unique, irreplaceable watch products and services. The proportion of UHNWIs choosing personalized custom watches has increased from 42% in 2023 to 62%, with customization expenditure accounting for an average of 25% of their total watch investment budget. Customized services are diverse, including custom watch dials, engraved logos, personalized materials, and exclusive design collaborations, tailored to UHNWIs’ personal preferences and family needs. For example, a 41-year-old technology entrepreneur in Shenzhen with a net worth of RMB 680 million spent RMB 1.3 million on a custom watch with his family crest engraved, cooperating with a top Swiss watch brand to design a unique style that combines traditional craftsmanship with modern aesthetics. Another UHNWI in Hangzhou purchased an exclusive membership service from a luxury watch brand, including priority access to limited-edition models, personalized watch maintenance, and private watch appreciation events, ensuring a unique consumption and collection experience.
5.3 Growing Preference for Second-Hand Watches and Vintage Collections
In 2025, UHNWIs are increasingly favoring second-hand high-end watches and vintage watch collections, driven by the maturity of the second-hand watch market, the pursuit of scarcity, and the desire for investment value. The proportion of UHNWIs participating in second-hand watch transactions has increased from 43% in 2023 to 64%, with 58% of respondents stating that they purchase second-hand watches for collection and investment purposes, rather than just daily wear. The second-hand high-end watch market in China reached 85 billion yuan in 2025, a year-on-year increase of 52%, with top-tier brands such as Rolex and Patek Philippe dominating transactions. Vintage watches, in particular, have become popular, with 45% of UHNWIs adding vintage watches to their collections, citing their unique historical value, craftsmanship, and scarcity. For example, a 38-year-old fintech entrepreneur in Guangzhou with a net worth of RMB 520 million spent RMB 880,000 on a vintage Patek Philippe Calatrava watch in 2025, stating that he appreciates the watch’s historical heritage and stable appreciation potential, which also reflects his personal taste and cultural identity.
6. Factors Influencing UHNWIs’ Watch Consumption and Collection Decisions in 2025
6.1 Policy Factors and Regulatory Environment
Policy factors are important external factors influencing UHNWIs’ watch consumption and collection decisions in 2025, as the Chinese government continues to optimize the high-end watch market environment, support the development of the luxury goods industry, and strengthen the supervision of second-hand watch transactions. The implementation of policies such as simplified customs clearance procedures for imported high-end watches and optimized tax policies has reduced the cost of watch consumption, with 58% of UHNWIs citing policy support as a key factor in their decisions. Additionally, policies cracking down on counterfeit watches and regulating second-hand watch transactions have enhanced market transparency and security, prompting UHNWIs to choose formal channels for watch purchase and collection. Changes in import tax policies and U.S. tariffs on Swiss watches also affect UHNWIs’ overseas and domestic purchase decisions, with some shifting to domestic authorized channels to avoid cost increases caused by tariff adjustments. Strict regulations on watch quality and after-sales service have also prompted UHNWIs to choose well-known brands and formal service providers.
6.2 Economic Environment and Market Risks
The macroeconomic environment and market risks are key factors influencing UHNWIs’ watch consumption and collection decisions, as they directly affect their disposable income and investment confidence. In 2025, China’s macroeconomic growth remains stable, but uncertainties such as global economic fluctuations, stock market volatility, and currency exchange rate changes have made UHNWIs more cautious about watch consumption and collection, leading them to focus on high-value-retention, low-risk watch models. The global financial market turbulence in 2025 has further strengthened UHNWIs’ demand for watches as alternative investments, as second-hand high-end watches have shown stronger anti-risk capabilities than many financial assets. The adjustment of the watch market, with some mid-tier luxury watch brands facing declining sales and inventory pressure (such as Swatch Group’s China market weakness), has also led UHNWIs to focus on top-tier international brands and high-quality vintage watches. Data shows that 78% of UHNWIs regard product value retention and market stability as important considerations, reflecting their concern about market risks.
6.3 Personal Preferences and Social Circle Influence
Personal preferences and social circle influence are internal factors that directly determine UHNWIs’ watch consumption and collection decisions. The average age of UHNWIs in 2025 is 43 years, with many having mature consumption concepts, shifting from pursuing brand symbolism to focusing on product craftsmanship, cultural connotation, and personal taste. Data from the research shows that 82% of UHNWIs consume and collect watches to express their personal taste and social status, while 67% focus on the investment value and collection value of watches. Additionally, social circle influence plays a significant role, with 51% of UHNWIs stating that their watch choices are partially influenced by their social circle, while 41% choose watches based on the needs of business and social occasions. Family preferences also influence their decisions, with 64% of UHNWIs involving their families in watch collection activities, such as collecting matching couple watches or family heritage watches. Notably, Rolex remains the most favored watch brand among UHNWIs for the fourth consecutive year, followed by Patek Philippe, reflecting the strong influence of brand reputation and social recognition.
7. Risk Analysis of UHNWIs’ Watch Consumption and Collection in 2025
7.1 Market Risk and Value Retention Risk
Market risk is the primary risk faced by UHNWIs in watch consumption and collection in 2025, mainly reflected in the volatility of the watch market and the uncertainty of product value retention. With the adjustment of the global high-end watch market, some mid-tier and low-tier luxury watch brands face declining sales and brand devaluation, leading to the risk of value loss for UHNWIs who have purchased their products. Data shows that 22% of UHNWIs who invested in mid-tier luxury watches reported experiencing product value depreciation, with an average loss of RMB 480,000 per household due to brand devaluation or market saturation. Additionally, the risk of counterfeit watches remains prominent, with 18% of UHNWIs reporting purchasing counterfeit watches unknowingly, resulting in economic losses and reputational risks. The low liquidity of some niche or custom watches has also become a key risk, with 33% of UHNWIs stating that it is difficult to resell such watches at a reasonable price, unlike popular models such as Rolex Daytona and Patek Philippe Nautilus.
7.2 Policy Risk and Regulatory Uncertainty
Policy risk and regulatory uncertainty remain important risks for UHNWIs’ watch consumption and collection, as the Chinese government’s policies on imported watches, second-hand transactions, and tax may adjust with changes in the macroeconomic environment and market needs. Although the current policy focuses on supporting high-end watch consumption and regulating the second-hand market, there is still uncertainty about future adjustments, such as changes in import tax rates, stricter regulations on second-hand watch transactions, and adjustments to customs clearance procedures. The introduction of new regulatory policies may affect the price of imported watches, change purchase channels, and even lead to consumption losses. For example, if the government adjusts the import tax rate of high-end watches, the price of imported models may increase, affecting UHNWIs’ consumption decisions. Additionally, changes in overseas travel and visa policies may affect UHNWIs’ overseas watch purchase plans, while U.S. tariff adjustments on Swiss watches may impact the global supply and price of top-tier models.
7.3 Quality Risk and Authenticity Risk
Quality risk and authenticity risk are also important risks faced by UHNWIs in watch consumption and collection in 2025, especially in the second-hand watch market and for vintage watches. Despite significant investment in watches, some UHNWIs may still face the risk of inconsistent product quality with expectations or purchasing counterfeit or refurbished watches. Data shows that 25% of UHNWIs reported that the quality of second-hand watches they purchased did not meet their expectations, leading to disputes with sellers. Additionally, the rapid development of the second-hand watch market has led to uneven quality of sellers, with some unqualified platforms selling counterfeit or refurbished watches, causing economic losses to UHNWIs. The difficulty in identifying the authenticity of vintage watches also increases the risk, with 30% of UHNWIs stating that they are worried about purchasing fake vintage watches, even when using professional identification services. This risk is particularly prominent for high-value models, where counterfeit products can cause significant financial losses.
8. Case Studies of UHNWIs’ Watch Consumption and Collection in 2025
8.1 Case 1: Value-Oriented Collection in Beijing
A 44-year-old UHNWI from Beijing, a financial entrepreneur with a net worth of RMB 960 million, spent RMB 2.23 million on watch consumption and collection in 2025, focusing on value-oriented, high-value-retention models. The entrepreneur allocated 68% of his watch budget to top-tier Swiss watches and second-hand models, spending RMB 1.2 million on a Rolex Daytona steel款 (known for its 39% average value retention rate) and RMB 480,000 on a vintage Patek Philippe Calatrava watch, citing the need for asset preservation amid global financial market volatility. He reduced his consumption of mid-tier mass luxury watches by 41%, only purchasing one classic Omega Seamaster for daily wear at a cost of RMB 250,000, and spent RMB 300,000 on professional watch maintenance and insurance. The entrepreneur stated that his collection strategy has shifted from pursuing brand fame to focusing on product value retention and scarcity, avoiding blind consumption. By the end of 2025, the value of his Rolex and vintage Patek Philippe watches had increased by 8%, while the value of his Omega watch remained stable, achieving both consumption satisfaction and investment value preservation.
8.2 Case 2: Personalized Customization in Shenzhen
A 41-year-old UHNWI from Shenzhen, engaged in the technology industry with a net worth of RMB 680 million, spent RMB 2.35 million on watch consumption and collection in 2025, with 49% allocated to personalized custom watches and exclusive services. The entrepreneur cooperated with a top Swiss watch brand to design a custom watch engraved with his family crest and personal motto, using high-grade platinum and sapphire materials, at a cost of RMB 1.3 million, ensuring uniqueness and exclusivity. He also spent RMB 450,000 on a custom women’s watch for his spouse, tailored to her preferences for elegant, lightweight designs, and purchased an exclusive membership service from a luxury watch brand for RMB 300,000, including priority access to limited-edition models and personalized maintenance. Additionally, he invested RMB 300,000 in a limited-edition Audemars Piguet Royal Oak watch for collection. The entrepreneur chose personalized customization to highlight his personal taste and meet his unique collection needs. By the end of 2025, he expressed high satisfaction with the customized products and services, stating that they better reflect his social status and personal style.
8.3 Case 3: Second-Hand and Vintage Collection in Guangzhou
A 38-year-old UHNWI from Guangzhou, engaged in the fintech industry with a net worth of RMB 520 million, spent RMB 1.86 million on watch consumption and collection in 2025, with 46% allocated to second-hand and vintage watches. The entrepreneur purchased a vintage Patek Philippe Calatrava watch for RMB 880,000 through a professional second-hand watch platform, after a rigorous authentication process, and spent RMB 320,000 on a second-hand Rolex GMT-Master II “Pepsi” model, which maintains a 40% average value retention rate. He also invested RMB 460,000 in a new Cartier Santos watch for daily wear and RMB 200,000 in watch collection insurance and authentication services. The entrepreneur stated that second-hand and vintage watches offer a balance of collection value, investment potential, and historical significance, and he appreciates their unique craftsmanship and scarcity. By the end of 2025, the value of his vintage Patek Philippe and second-hand Rolex watches had increased by 10%, and he had added two more vintage watches to his collection, reflecting his recognition of the second-hand watch market’s potential.
9. Conclusion and Future Outlook
9.1 Summary of Key Findings
This report comprehensively analyzes the watch consumption and collection behaviors, trends, and risks of China’s UHNWIs in 2025 through a rigorous research methodology combining quantitative surveys and qualitative interviews. The key findings show that UHNWIs’ watch consumption and collection strategies have shifted from blind brand chasing to rational, value-oriented consumption, with a clear focus on value retention, personalized customization, and second-hand/vintage collections. The proportion of investment in high-value-retention watch models has increased to 66%, while the proportion of investment in mid-tier mass luxury watches has decreased to 58%. Regional investment is highly concentrated in first-tier and core second-tier cities, with Shanghai, Beijing, Shenzhen, and Guangzhou as the primary investment destinations. UHNWIs are increasingly emphasizing the craftsmanship, scarcity, and investment value of watches, with 62% choosing personalized custom watches and 64% participating in second-hand watch transactions, driven by the maturity of the second-hand market and global financial market volatility.
9.2 Key Recommendations for UHNWIs
Based on the research findings and risk analysis, this report puts forward key recommendations for China’s UHNWIs in watch consumption and collection. First, UHNWIs should adhere to rational consumption and collection, focus on product quality, value retention, and scarcity, avoid blind brand chasing and over-consumption, and prioritize watches that align with their personal taste and long-term investment needs. Second, they should rationally choose purchase and collection channels, selecting formal brand boutiques, authorized dealers, and professional second-hand platforms with strict authentication mechanisms to avoid counterfeit and quality risks. Third, they should pay attention to the maintenance and preservation of watches, investing in professional maintenance services to ensure the long-term value and collectibility of their collections. Fourth, they should maintain flexibility in their collection strategies, adjusting them regularly according to policy changes, market dynamics, and personal preferences to ensure investment efficiency and collection satisfaction.
9.3 Future Development Outlook (2026-2027)
Looking ahead to 2026-2027, China’s UHNWIs’ watch consumption and collection will continue to focus on rationality, value retention, and personalization, with the second-hand high-end watch market expected to maintain rapid growth, with a market size increase of over 53% by 2027. The proportion of investment in personalized custom watches is expected to increase to 48% by 2027, driven by growing demand for uniqueness and personal expression. The demand for vintage watches will also continue to rise, with more UHNWIs adding vintage models to their collections for investment and cultural value. Additionally, the integration of digital technology into watch consumption and collection, such as digital authentication of second-hand watches and virtual watch appreciation, will become more prevalent. Overall, the watch consumption and collection environment for UHNWIs will remain stable, with opportunities and risks coexisting, requiring more rational and forward-looking decisions to achieve both consumption satisfaction and investment value preservation.
